Ripple recently announced that they plan to develop a new stablecoin, aiming to join the multi-billion dollar digital currency industry. Stablecoins, such as Tether USD (USDT) and USD Coin (USDC), are currently enjoying great popularity.
According to financial analyst Rob Cunningham, the introduction of this new stablecoin may also affect the price of XRP.
The enormous potential of stablecoins
Ripple plans to become a significant player in the stablecoin market with the introduction of their new stablecoin. Currently, the largest stablecoins, USDT and USDC, dominate the market with a combined market value of almost $150 billion.
Ripple foresees significant growth in this sector, with the total market value expected to rise to $2.8 trillion by 2028.
This new stablecoin will be developed on the XRP Ledger (XRPL) network, which has the potential to significantly impact the value of XRP.
A jump to $12?
Financial researcher Rob Cunningham predicts that the launch of a stablecoin on the XRPL network has the potential to trigger a significant price increase for XRP. Cunningham estimates that the value of XRP could potentially reach $12 within four years, a tenfold increase from its current price.
This expected price increase is primarily driven by the need for users to turn to the XRPL network to use the new Ripple stablecoin. This is expected to lead to an increase in the use of XRP, which would put upward pressure on the price.
Trade €10,000 for free and get a 10 euro bonus
Do you want to enter the crypto world and perhaps buy XRP or another crypto? Then grab your chance now with this exclusive offer! Thanks to a special deal between Newsbit and Bitvavo, one of the most accessible and user-friendly crypto exchanges in Europe, our readers receive an exclusive offer.
Create an account with Bitvavo via the button below and receive a welcome gift of 10 euros completely free. And that’s not all – you also don’t pay trading fees on your first 10,000 euros in transactions. Register now!
Source: https://newsbit.nl/xrp-koers-mogelijk-naar-12-door-nieuwe-stablecoin/
